"The superior man is catholic and no partizan. The mean man is a partizan and not catholic." (君子周而不比、小人比而不周。) ─ Confucius, The Analects, 2.XIV, translation by James Legge.

Tuesday, August 24, 2010

"War Is Good For the Economy!"

Hugh MacIntyre posts a video that in three-and-half-minutes exposes an easily-debunked "fallacy that is much more prevelent that it first may seem" and that "remains at the core of mainstream policy-making" — Broken Window Fallacy. For a more thorough analysis, read the works of Frédéric Bastiat and Henry Hazlitt.